Oscilar unveils industry-first generative AI powered platform for fraud prevention

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Oct 24, 2023, 10:00 ET

Announcement made onstage at Money20/20 by co-founder and CTO Sachin Kulkarni

MENLO PARK, Calif., Oct. 24, 2023 /PRNewswire/ -- Oscilar, the AI fraud detection company co-founded by Confluent co-founder Neha Narkhede and former Meta engineering executive Sachin Kulkarni, yesterday unveiled an industry-first generative AI risk decisioning offering that enables companies to manage credit, fraud, and compliance risks with greater velocity and precision than ever before. This advancement, which was announced onstage at Money20/20, makes the Oscilar the first generative AI risk management company.

Oscilar Co-Founder and Chief Technology Officer Sachin Kulkarni speaks at Money20/20 in Las Vegas. (Oscilar photo)

"Even the most well-funded companies struggle to keep up with the increasing pace and sophistication of fraud schemes, which led to more than $8 billion in consumer losses last year," said Oscilar Co-Foudner and Chief Technology Officer Sachin Kulkarni. "Our newest AI Risk Decisioning solution, radically expedites risk decision-making, greatly reduces human effort spent on manual decision-making, and establishes scalable fraud programs that operate with greater efficiency and effectiveness. Oscilar empowers risk operators to tackle complex fraud and risk problems at scale from multiple dimensions."

Oscilar's AI Risk Decisioning solution differs from current fraud and risk tools because it scours data from the most comprehensive open and closed sources, builds fraud knowledge on top of it, and uses AI to bring this information together in a unified way. As a result, Oscilar, equipped with context-aware conversational AI, automatically recognizes potential fraud patterns, allows you to do root cause analysis, and makes recommendations on how to address risk in real-time through a natural language interface.

Customers are now able to harness the power of generative AI to more effectively manage risk across every customer touchpoint. By integrating Oscilar AI, state-of-the-art LLMs, and Oscilar's risk operating system, the company offers customers the ability to unify data sources to power a 360-degree view of the user's risk profile and create a cognitive, context-aware methodology for smartly and quickly assessing risk.

Oscilar is now working with dozens of fintech's leading companies including Super, Slope, Flexcar, Finsync, and more.

Learn more about Oscilar's Generative AI vision for Risk Decisioning by visiting http://oscilar.com/lp/gen-ai.

About Oscilar
Oscilar was founded in 2021 by Confluent Co-Founder Neha Narkhede and former Facebook engineering executive Sachin Kulkarni. The company, comprised of a team that created advanced risk management platforms at Apple, Uber, and LinkedIn, has rapidly gained traction since emerging from stealth in April. With $20 million in funding from the company's two co-founders, Oscilar has attracted dozens of fintech customers, including Flexcar, Super, Finsync, Slope and more.

Media Contact: Tim Granholm, Shallot Communications, [email protected]

SOURCE Oscilar